Baldwin County condo sales off to fast start in 2017

Baldwin County condo sales off to fast start in 2017
The Baldwin County condo median sales price in January was $290,000, up 14 percent from last January. (iStock)

Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the Baldwin County Association of Realtors Multiple Listing Service, Baldwin County condo sales, which include condos along the Gulf Coast, totaled 121 units during January, a 36 percent increase from January 2016’s 89 units.

For all of Baldwin County’s condo sales data, click here

Condo sales in January were 36 percent above January 2016’s 89 units.

Forecast: January sales were 24 units or 24 percent above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2016 sales forecast through January projected 97 closed transactions. Actual sales were 121 units.

Supply: Baldwin County condo inventory totaled 698 units, a decrease of 24 percent, or 225 units, from January 2016. The inventory was down 3 percent from the prior month. Historical patterns indicate that January inventory on average (2012-16) increases 2.6 percent from December. Condo inventory during January peaked in 2011 at 1,322 units. The inventory is down 47 percent from the peak. During January, the condo supply stood at 5.8 months, down from 10.4 months during January 2016.

Demand: Condo sales fell 7 percent from December. Seasonal buying patterns and historical data trends reflect January condo sales on average (2012-16) increase from December by 20 percent.

Pricing: The Baldwin County condo median sales price in January was $290,000, up 14 percent from last January. The median sales price decreased 10 percent from the prior month.

The Baldwin County Condo Monthly Report is developed in conjunction with the Baldwin County Association of Realtors to better serve both local and worldwide consumers interested in the beaches along Alabama’s Gulf Coast.

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